Pakistan Power Project Secures Kuwait Fund Aid

The Kuwait Fund for Arab Economic Development and Pakistan have signed a USD40 million agreement for a major hydropower project that is expected to augment the flood-hit country’s electricity supply by up to 1,000 megawatts.

The Kuwait Fund is the latest donor to support the Neelum Jhelum Hydropower Project, which is also backed by the Saudi Fund, Islamic Development Bank, OPEC Fund, Abu Dhabi Fund and Chinese EXIM Bank, the Nation reports.

The project aims to develop Pakistan’s national generation system to address the rising demand for electricity in the country.

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    Ivy Mungcal

    As former senior staff writer, Ivy Mungcal contributed to several Devex publications. Her focus is on breaking news, and in particular on global aid reform and trends in the United States, Europe, the Caribbean, and the Americas. Before joining Devex in 2009, Ivy produced specialized content for U.S. and U.K.-based business websites.